BorgWarner Inc. (NYSE:BWA) Shares Acquired by iA Global Asset Management Inc.

iA Global Asset Management Inc. increased its stake in BorgWarner Inc. (NYSE:BWA) by 489.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 51,937 shares of the auto parts company’s stock after acquiring an additional 43,125 shares during the period. iA Global Asset Management Inc.’s holdings in BorgWarner were worth $1,651,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BWA. Brooklyn Investment Group acquired a new stake in shares of BorgWarner in the third quarter worth approximately $32,000. True Wealth Design LLC purchased a new position in BorgWarner in the third quarter valued at approximately $38,000. Avior Wealth Management LLC raised its holdings in BorgWarner by 31.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,435 shares of the auto parts company’s stock valued at $46,000 after buying an additional 342 shares during the period. Generali Asset Management SPA SGR purchased a new position in BorgWarner in the fourth quarter valued at approximately $59,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in BorgWarner in the third quarter valued at approximately $62,000. 95.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of BorgWarner from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, February 7th. TD Cowen lowered shares of BorgWarner from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a report on Friday, March 7th. BNP Paribas upgraded shares of BorgWarner from a “neutral” rating to an “outperform” rating and set a $36.00 price target on the stock in a report on Tuesday. Barclays dropped their price objective on shares of BorgWarner from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Finally, Piper Sandler dropped their price objective on shares of BorgWarner from $43.00 to $36.00 and set an “overweight” rating on the stock in a research note on Thursday. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.06.

BorgWarner Trading Down 0.9 %

BWA opened at $28.68 on Friday. The stock has a market capitalization of $6.27 billion, a PE ratio of 20.06, a P/E/G ratio of 0.77 and a beta of 1.21. The firm’s fifty day moving average price is $30.36 and its 200 day moving average price is $32.54. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.79 and a quick ratio of 1.45. BorgWarner Inc. has a 12-month low of $27.65 and a 12-month high of $38.23.

BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, February 6th. The auto parts company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.08. BorgWarner had a net margin of 2.40% and a return on equity of 15.93%. As a group, research analysts expect that BorgWarner Inc. will post 4.28 EPS for the current fiscal year.

BorgWarner Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.53%. BorgWarner’s dividend payout ratio (DPR) is 30.77%.

Insiders Place Their Bets

In other BorgWarner news, EVP Tania Wingfield sold 24,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $28.79, for a total transaction of $690,960.00. Following the sale, the executive vice president now directly owns 39,110 shares of the company’s stock, valued at approximately $1,125,976.90. This represents a 38.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Tonit M. Calaway sold 13,500 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $30.16, for a total transaction of $407,160.00. Following the sale, the chief accounting officer now directly owns 259,310 shares in the company, valued at $7,820,789.60. This trade represents a 4.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,800 shares of company stock valued at $1,347,701. Company insiders own 0.45% of the company’s stock.

BorgWarner Profile

BorgWarner Inc, together with its subsidiaries, provides solutions for combustion, hybrid, and electric vehicles worldwide. It offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, cabin heaters, battery modules and systems, battery heaters, and battery charging.